Centiva Capital LP Makes New $578,000 Investment in RadNet, Inc. (NASDAQ:RDNT)

Centiva Capital LP purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 8,277 shares of the medical research company’s stock, valued at approximately $578,000.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas purchased a new stake in RadNet in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp raised its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the period. Smartleaf Asset Management LLC lifted its stake in RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after acquiring an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after acquiring an additional 422 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in RadNet during the 4th quarter valued at about $105,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Performance

Shares of RDNT stock opened at $55.77 on Friday. The company has a market cap of $4.18 billion, a P/E ratio of -796.60 and a beta of 1.46. The firm has a fifty day moving average price of $50.77 and a 200 day moving average price of $63.41. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. Sell-side analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the completion of the sale, the chief operating officer now directly owns 261,959 shares of the company’s stock, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RDNT shares. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial decreased their price target on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. StockNews.com raised RadNet to a “sell” rating in a research report on Wednesday, March 19th. Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Barclays cut their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, RadNet currently has a consensus rating of “Buy” and a consensus price target of $69.75.

RadNet Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.